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30 Sep 2015 
{How Forex Brokers Really Make Money


By Alex Bowman, CFA - August 27, 2015


Most Forex brokers aren't your traditional financial intermediaries found on Wall Street. When operating in international currency and CFD markets, full understanding of the structure and strategic objectives of Forex brokers may mean a difference between success and utter failure for a trader. There is much more to the subject than just transparency of commission structures and hidden costs. Knowing how to spot a truly professional brokerage solution, which will serve your interests instead of stuffing their own pockets with your money, will go a long way in safeguarding your capital.


Dangerous Business Model of Market Making, or B-Book


What is the business model of most Forex brokers, how do they operate and make money? What are the fundamental differences from traditional structures that equity investors are used to?


There is only two business models among the thousands of brokers globally. The first and most commonly used model is known as market-making, or B-Book. Whether regulated or not, such brokerages present the greatest risk of financial losses and missed profits to clients. B-Book is a technical term, which implies that provider will virtually execute trades without sending them to live markets. Such methodology allows the virtual broker to keep all trades on the books, acting as counterparty to every transaction under assumption that the prevailing majority of clients will eventually lose all money. Client loss here becomes broker gain, and vice versa.


forex broker


You may have read numerous reports with trader complaints covering a variety of manipulative broker techniques they encountered when trading in Forex and CFD markets, including stop-hunting, forced delays in trade executions, unjustified price spikes, artificial gaps, unexpected slippage and drastic surge in spreads, among the many other shady practices that witnesses report. The chances are, few would know the underlying reasons behind such broker behaviors. In reality, it all comes down to the factors of opportunity and financial incentive. Since their profitability and the very financial survival is driven by client losses, such brokers tend to misuse the technical facilities of B-Book systems, interfering with client trades, manipulating execution and even dressing up price quotes to maximize their own profits.


Unfortunately, as practice shows, even regulated brokers are prone to these abuses. The reality of things and practical experience of investors with market makers show that there is no such thing as a reputable B-Book broker, while the business model itself is fundamentally skewed to benefit the broker at the expense of the client.


Let's have a look at actual numbers. We reviewed a screenshot of a system employed by one small-sized B-Book broker that went out of business recently, deciding to share this valuable information with investors. Profitability of this broker with only three employees is mind-boggling. Truly so, they make money from thin air. Daily trade report of this broker shows that clients altogether lost astonishing $195,000 in one day of trading. B-Book broker will transform these virtual client trades, where no actual market trading occurred in the first place, in broker's own profits. The very next day, these funds are being used to pay for even more advertising, selling the concept of easy money to trusting investors. This is precisely why the brokers that have some of the highest online visibility due to heavy advertising, use B-Book models, while professional ECN brokers have relatively small presence online and advertise their offers within reasonable budgets. High competition for advertising spots saw brokers' marketing costs skyrocket, and it is generally the case that only market-making B-Book brokers, who essentially use client money to pay for advertising, are able to afford the cost.


Scary consequences of B-Book business models


Most common grey techniques used by B-Book brokers are presented in the screenshot that follows. You can clearly see that brokers have the technical means to force execution delays, damaging client accounts when traders may need to exit the market urgently on huge price swings. They can and often do disregard stop-loss requests, or execute orders at inferior prices, take client money from positive slippage, artificially inflate spreads, and utilize other complex tools to guarantee broker profits. These systems are not designed to provide honest brokerage services, and are not aimed at long-term customer satisfaction. All they are meant to do, is maximize client losses for maximum broker rewards.


Worst of All, This Could Actually be Legal, Even for Regulated Brokers


Curiously enough, most of the manipulative techniques discussed above could be perfectly legal, even for regulated brokers registered and operating in reputable jurisdictions. This is the case because according to client contracts, which are the terms and conditions that customers accept online when opening Forex broker accounts, are drafted with full disclosure of the market-making role of the broker. According to these agreements, brokers act as exclusive dealers for all Forex and CFD trades, and legally have the right to offer the kind of execution they deem acceptable under circumstances. If the circumstances are such that the client is making money, it may just be in the best interests of the broker to put a stop to the winning trades and reverse gains. If it is perfectly legal to do so, there might as well be no stopping the broker from doing it.


Alternative DMA/STP solutions for professional traders


DMA/STP, often referred to as simply ECN brokers, pursue best interests of their clients in contrast to the above practices. Also known as A-Book brokers, DMA/STP firms operate solid brokerage businesses as they are meant to be. Equipped with technical means to deliver absolute best trade execution, DMA/STP brokers are driven by client-centric business models, which motivate them to continuously improve their services, reduce trading costs and provide solutions that help traders achieve better results. DMA/STP brokers will deliver true market prices and route all client trades to international banks and other liquidity providers through ECN environments. Concord Bay is one example of an international brokerage that operates according to a 100% DMA/STP business model, in a fair and transparent business relationship where broker is motivated to help clients succeed in the markets, growing trading volumes and facilitating client profitability a win-win relationship.


The Bottom Line


If you ever thought of making money with a market-making broker, you might as well forget it altogether as the chances of your dreams materializing are next to none. The only viable brokerage solution for professional Forex and CFD traders is one where broker's financial motivation is tied to client success, with a commission-based compensation instead of the more common B-Book model where broker makes money on client losses. DMA/STP firms, like Concord Bay, also known as A-Book brokers, cater to professional traders and investors, delivering superior execution and first-rate electronic trading services structured to facilitate success of their clients.|ECN, STP and DMA Forex and CFD Brokers Versus Market Makers


Differences in Business Models and Why It's Important


By Shawn Bailey, Hawk & Campbell Securities, June 12, 2015


Every Forex trader, whether an expert in day trading or a long-term currency trading visionary, is in a constant search of one top Forex broker that provides not only best trading technology, but also stability and confidence of a bulletproof online trading platform. Picking the right partner for your online trading is a question of knowledge and deep understanding of underlying business models that govern every step your Forex broker takes.


This article investigates the two predominant business models in online brokerage of market-making and straight-through-processing (STP), explaining critical subtleties in Forex dealing that are often ignored by traders and investors alike. Knowing this information will help you make informed decisions when picking the one most important partner in your online trading Forex career - your Forex broker.


ecn brokers


Who are Forex Market Makers, and Why They Are, Well, Dangerous


Forex market makers essentially take the other side of your trade, every time you click Buy or Sell. For instance, if a Forex client buys one lot of EUR/USD at 1.12 and the client’s broker is market maker, they sell one lot of EUR/USD back to you at 1.12. In other words, market maker bets against the client. In a zero-sum game on global currency markets, only one side of the trade wins, and market maker is no different than a massive Forex casino that is so big, it can wait indefinitely until clients lose all money, Forex accounts drain all funds, and market making broker walks away with the profit.


Forex market makers will deploy a dealing desk that manages their exposure to profitable clients, using automated and manual methods to monitor all Forex trades that flow through their systems. Should a client start making money, and we are not talking here about a single lucky trade, but a consistent pattern of winning, such Forex broker may deploy extremely efficient tools that will intervene in trading execution processes, turning the bets in broker's favor.


Straight Through Processing - STP Brokers and Direct Market Access (DMA) Approach


Unlike market makers, DMA/STP brokers don't trade against their clients, but rather send every Forex trade to the interbank market. STP Forex brokers are interested in a prolonged relationship with the client since Forex broker's own financial results are driven by commissions that their clients pay. Financial motivation that this approach creates generally means considerably better trading conditions, low Forex spreads and quick trade execution without any Broker manipulation.


In addition, the DMA/STP/ECN model makes expensive dealing desks irrelevant and unnecessary. This removes extra costs from the company's financial structure and reduces expenses for Forex traders. Top STP brokers are interested in satisfaction of their clients and high customer retention rates. Thus, they tend to lower trading costs as much as possible and offer value-added services to assist their clients.


It is important to note that while both DMA and STP are business models, Forex ECN is a kind of technology that may or may not be used by STP brokers for best results. There is a slight difference between DMA and STP. While deployment of both business models will make your Forex broker send trades to interbank or other liquidity providers, STP brokers may add a slight mark-up on spreads that you see in your Forex trading platform. Combined usage of straight through processing approach and DMA pricing, on the other hand, provides online traders with true interbank quotes at all times for maximum transparency at absolute lowest trading cost. DMA and STP brokers will generally provide variable spreads and true market pricing that dependably reflects the state of interbank foreign currency markets.


In contrast to the above, a market maker is likely to offer fixed or "capped" spreads at certain limits. In comparison, an ECN or STP broker cannot and logically will not utilize such pricing model, since in doing so the firm automatically becomes a market maker, using its own risk-capital to create artificial demand for client trades. True STP brokers do not bet against their clients.


ECN Brokers and Electronic Communications Network Technology


ECNs generally include many liquidity providers (LPs). LPs simultaneously submit quotes to the ECN and the system aggregates Forex price quotes to show best bid-best offer, with minimum spread for each transaction. With true ECN, traders enjoy minimum spreads that often go down all the way to zero.


Both DMA and STP brokers maintain complex Forex liquidity networks that vary in their quality, size and diversity of trading partners. By diversifying their liquidity pools via ECN technology, DMA/STP brokers ensure that client trades are sent to liquidity providers and the global Forex interbank market, while paying these LPs a preagreed transaction fee, or commission. STP brokers arrange liquidity with various banking partners and institutional liquidity providers, creating a competitive environment on a single ECN Forex platform where various suppliers stream their best Bid and Ask prices, competing for the business of retail customers. ECN is a trading technology that powers up the price-matching engine of DMA brokers, selecting best prices for Forex traders at any given point in time in a highly efficient, streamlined automatic environment.


False STP/DMA Brokers and How to Spot Them


With STP/DMA/ECN Brokers gaining popularity among online currency traders, many companies nowadays misrepresent their offers and position the more common market-making trade execution as ECN platform. We will leave the judgment on the ethics of such misrepresentation, and instead emphasize red flags that will help Forex traders spot the lie and distinguish a true ECN broker from a market-maker.


1) True STP/ECN Forex broker will never offer you bonuses or no-deposit live accounts. Recall that STP brokers are in business of only matching your trades with real interbank liquidity for a commission. Only market makers who expect you to lose all funds will offer free money, while a live brokerage with global banking partners doesn't engage in casino-like behaviors.


2) DMA brokers don't want you to and don't expect you to lose your money, so they will not employ predatory tactics, such as unreasonably high leverage, forced timeouts, price spikes, gaps, won't forbid automated trading or scalping, and won't resort to other limitations to stop you from effective trading.


3) STP brokers will not promise you easy millions or offer freebies, such as free education, trading signals or falsely-profitable expert advisors, all of which are completely worthless anyway. True STP/DMA/ECN brokers will invest in their technology and cater to experienced, professional Forex traders who already know the differences in broker business models and can spot the rotten apple.


Recommendations for Professional Forex Traders


Forex brokers are in the midst of a revolution. Direct Market Access, Straight Through Processing, and Electronic Communications Networks are making an extraordinary impact on broker operations, lowering transactional costs for Forex traders and drastically improving performance of trading systems. Combining the best in trading technology and interbank Forex liquidity, the 100% DMA/STP/ECN business model is a no-brainer when it comes to selecting your Forex broker.


Concord Bay offers a true 100% DMA/STP/ECN platform to both large institutional investors, other Forex brokers and smaller retail clients. The firm aggregation technology matches liquidity from 50+ tier-one banks and institutional providers, offering lightning fast execution of 3 ms or less, spreads as low as 0.0 pips, amid full broker transparency and with full commitment of a true agency model. Concord Bay clients are free from traditional broker pressure or manipulation. Here is basic information every trader needs to know:


DMA Advantages to Traders, and Why Concord Bay stands out in the crowd:


1) There are no discriminatory rules or predatory practices against any trading system or style. Broker and trader interests are aligned. Every trading system is welcome, including high-frequency trading and automated expert advisors, news trading and scalping.


2) Concord Bay offers requote-free environment.


3) No price manipulation, and no spread mark-up - only true interbank quotes at all times.


4) DMA broker works for the client and not against the trader. Conflict of interest is finally out of the picture.


Concord Bay is a true DMA/STP/ECN Forex broker built to promote the integrity of Forex trading with the best interests of Forex traders in mind. Visit to learn more.|ECN Forex Broker And STP Brokers - How They Operate and Why It's Important


By Shawn Bailey, Hawk & Campbell Securities, July 21, 2015


Much has been said on the subject of various business models that drive one Forex broker practice or another. You must by now already know what in theory is an ECN Forex broker, and how straight-through-processing, or STP, is drastically different from market-making brokers. With all this material accumulated in the diverse landscape of the world wide web, numerous articles are failing one after another to answer one basic question. Why is this knowledge important to Forex traders?


Choice of a True ECN Broker is the One Most Important Decision in Your Forex Trading Career


So, what are the implications of trading in foreign currency markets with a common market-maker, as opposed to a choice of a true ECN broker?


ecn broker
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29 Sep 2015 
Neopythonic


As soon as your physician takes a prescription station at your yearly appointment out, can you actually end to ponder as she decides which medicine to write down, what switches into her thought process? Additionally obviously, I argue or did not agree with this presentation of my blog post. In my previous post I covered utilizing wonderful- unicode and slugify to fully capture slugs in both ASCII. I have joined forces with Audrey Roy and Matt Harrison to put the first actually Python Indie Bundle sale together! I am more considering fixing common development questions with the yield record and goofing around as you can boost the-heck out of your Python code with machines and turbine words. Here is the first of blogs centered on my activities touring in various locations around the globe, in a set. After her blog, moved to, I used to be satisfied enough to give it a try.


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If you'venot currently, select your software's permission and you may need to register a brand new app while in the Application Console API app. To make Amazon Redshift a far more attractive option for exploring these essential health datasets, AWS introduced a new attribute that enables scalar python-based user defined functions (UDFs) in a Amazon Redshift group.


They might as slow as local SQL, which is created to equipment code, nevertheless the automatic supervision of parallelism can relieve most of the challenges associated with running the efficiency of your code. Another important factor of Python UDFs is that you'll be able to benefit from the entire features of Python without the need to go in to a distinct IDE or technique.
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29 Sep 2015 
Tired Of Struggling Skin? Here is Howto Take Care Of The Glow.


One of many major esthetics conditions that individuals have is once they have oily skin and can not discover a way to care for it. This generally leads to standard outbreaks, together with skin that becomes too shiny. While pores are plugged, new oil backs-up underneath the skin causing the dreaded acne. Because it becomes desperate when it meets the skin occasionally makeup does not use well. Comprehend you need a distinct approach to your skin than those with skin or dried if you're anyone who has to combat the oils. This representative acts as a micro-sponge to digest the fat from your own skin for about 8 hours.


Having an obvious understanding of all these capabilities goes to make it feasible for one to prescribe the proper products for someone who has greasy skin, a long way. In conclusion, in case you are going to be described as a beautician, it is necessary that in case your enterprise probably will thrive how to deal with oily skin you prepare to take care of all types. Greasy skin is very difficult to manage, and also happens to be among the most frustrating kinds of skin for many people. Oily skin simply suggests there is a different set of problems to cope with than those that happen with skin.


The extreme Gas generated has a tendency to lure dirt and lifeless skin cells in the atmosphere, ultimately causing clogging of pores. You'll also be anticipated to realize different ways the different treatment regimens work while controlling oily skin. As an example, there are a few which will decrease fat produced's level, plus some that may cut down on the shine connected with oily skin.


If you have ever experienced oily skin, you recognize the regime: wash with a strong cleansing, work with a strong toner, prevent moisturizer, implement make up, and expect the best! For some, the teenage years are identifiable with fatty skin because of hormonal action. As they age the skin becomes drier because hormone rises subside as well as the sebaceous glands aren't as effective. the problems occur if the fat builds up, although again, you'll find nothing wrong with fatty skin. This then produces a domino effect and rapidly clogs the pores.


Hot-water and keep it susceptible to disease from germs and soap will only irritate your skin. Most professionals declare that cleansers that contain salicylic acid or acid would be the best to utilize on fatty skin. You should be cautious when you yourself have skin, with what forms of makeup you utilize too. Therefore on the best way to cope with greasy skin our next suggestion will be to prevent cosmetics which are oil based and look for mineral-based types instead. You can purchase makeup which has a low-oily moisturiser, which can be called dimethicone, so consider this one on the makeup ingredients. For one to do every one of these, you'll have to have enter into connection with this sort of skin in your teaching.
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29 Sep 2015 
Taprite Dual Tension Rural Support CO2 Regulator


Lately exposed a new type of TapRite alcohol extras that are accessible through their site. The regulator will continue to work perfectly fine once you've discovered the correct stress however it will take some learning from your errors to acquire it altered. Each regulator has a Sentry shutdown protection built into your body that immediately defends the dispensing technique in the unlikely celebration of regulator failure or failure. The regulator I was utilizing for the Shiner Bock always had the beer turn out foamy and smooth.


To make sure appropriate operation, in-use your CO2 tank and regulator, please ensure that when remain in an upright position. If your regulator is used by you while in the cold it'll use up to 4 hours for that Modification to join up. For instance: if you're at 10 PSI and the strain changes to 12 PSI the regulator will go on on the next 4 hours to 14 or 15 PSI. I have had a single product regulator for approximately ten years also it finally quit functioning.


The EEOC's suit also supposed that the female staff's requests were refused by Fassco for reasonable hotel to her prior location that could have permitted her to continue operating for her handicap such as reassignment. Certain, you can walk around deserted properties Taprite, searching for outdated pepsi products, high in dreams that you may find an old pop keg. You may as well cross and produce the little expense within this new clean regulator, until you are making a spider egg and stout.


Description this t742 -2 commercial 2-solution dual gauge regulator that is main is laden with functions! The regulator includes a substantial hand control which makes it easy to regulate the force within the keg. This is a dual gauge regulator using the primary measure showing tension is inside the minute measure as well as the keg revealing co2 is quit inside your container. A:  You can fix another regulator to produce this a double physique product, which would also put in a gauge. We've only had two difficulties that were registered in 14 years with the Taprite model with having said that.


The EEOC stated that even after she registered a of discrimination claiming sex discrimination under both Name VII of the Civil Rights Act of 1964 along with the Equivalent Pay Act, Taprite Fassco elected to pay her male substitution (whom she initially skilled) greatly a lot more than she was paid for accomplishing fundamentally the same function.
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29 Sep 2015 
5 Things You Should Know About Carpet


Starting a carpet cleaning business is advisable for aspiring entrepreneurs who are looking for a straightforward business endeavor that does not require a huge capital, overhead, and experienced staff. These experts will be able to assist you with regular cleaning and janitorial services, such as keeping your restrooms clean, and with less frequent cleaning tasks, like carpet cleaning -/site/services/service/Carpet-Cleaning-Long-Island-NY. Alpha Cleaning Company has been providing professional office cleaning services in Crystal Lake and other areas in Chicagoland for almost a decade. To meet with a representative and discuss your requirements contact Alpha Cleaning Company today.


Although Scotchgard is obviously able to help prevent stains on your carpets, it can actually strengthen them too and prevent the typical wearing patterns that form on a carpet. If you have applied Scotchgard, do not forget that it works in cooperation with professional steam cleaning to provide you with cleaner and fresher carpets. Discover why after two decades in the highly competitive commercial cleaning industry our business continues to grow.


The homemade detergent is can be used to help disinfect and thoroughly clean any type of carpet. To help ensure that your carpets are left clean and fresh, a robot vacuum cleaner can first be used to quickly and easily lift and remove any dirt and dust from the carpet and then afterwards, the carpet can be cleaned using the detergent. It protects the coating of your upholstery or your carpet even as it deep cleans. Many natural household cleaning solutions involve the use of citrus juices as this provides powerful cleaning action. You just need to add ½ ounce of this solution with every gallon of water and you can clean just about anything, from carpets to upholstery.


It should be sprayed on the carpet and spread with a brush, before removing with vacuum. In this method, a solution of warm water and detergent is injected into the carpet under high pressure, which enables the soil and other dirt to get suspended in the water. It can be done cleaner with a bit of extra care regarding cleaning solutions, temperature and over-wetting. Regular vacuuming is very much important, if you want to maintain your expensive wool carpet for years. Use the paper towels to blot over the carpet again and remove the excess water.


As a conclusion, you may be insured of an unbiased regard of the carpet steam cleaner. The argue a lot of people are aiming to carpet steam cleaning than the old ones they've came accustomed to are the appliance and the welfares that should be gained from them that other cleaners are not capable to commit. For representative, those with a family member of the house that has asthma or other allergic reactions, steam cleaning is a all over alternative and is proven to be the more higher-ranking technique over the others. Likewise, carpet cleaners can make your older carpet seeming comparable mark newly rugs.
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